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The global Canisters market is set to reach US$ 5757.93 MN by 2030, at a 9.10% CAGR between years 2022-2030. The market is characterized by a dynamic environment, shaped by various factors that influence supply, demand, and overall market trends. Knowing how the market works is very important for businesses in this area. It helps them change with new situations and make good choices quickly. What people like has a big impact on how the market for canisters works.
Lifestyle changes, more people understanding the need for eco-friendliness and a focus on making life easier are affecting what kinds of containers we want. Makers must pay attention to changing consumer wants. They need their goods and services to match what people like nowadays. The canisters market is greatly affected by government rules and measures. Tough rules for the environment, safety, and labelling affect how things are made or sent out.
Following these rules isn't just important for obeying the law, but also keeping customer trust and faith in business. Technology improvements help make the canisters market change often. Changes in materials, making ways and smart tools affect the look and use of canisters. Businesses that put money into research and development to include new technology often get a head start. They can also lead what's popular in the market. Good management of the supply chain is very important for the canisters market.
Changes in the cost of materials, transport costs and things happening geopolitically can affect all parts that make up a supply chain. Businesses need to create strong supply chains that help avoid risks, make production happen on time and keep prices down.
The canister market is very competitive, with many companies trying to get a bigger share. Big competition can cause price battles, ways to make products different from others and companies buying or joining together.
Knowing the competition helps companies go forward strategically, make new things, and have strong brand names. The money situation, like rising prices, growth in GDP and how much people can buy affects the metal boxes market. When the economy is bad, people might only buy what they need. This can affect how much money they spend on things like special or fancy containers that are not essential to their lives. Checking money signs is key for guessing market changes and changing business plans as needed.
Canisters Market Highlights:
Canisters Market Overview
Canisters Market Size was valued at USD 2.94 Billion in 2023. The Global Canisters industry is projected to grow from USD 3.26 Billion in 2024 to USD 7.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.8% during the forecast period (2024 - 2032).
Canisters are rigid cylinder-shaped containers that are used for the packaging purpose. These cylinders are filled with substances such as activated carbon, silica gel, and clay. These substances act as dehydrating agents for controlling odor and moisture. Moreover, several types of packaging materials are used in the pharmaceuticals industry which include vials, unit pak, canisters, and pillow pak. However, canisters are more in demand owing to their rigid structure and ease of maintenance, thus suitable for household sectors. The use of desiccant canisters is on the rise as they are non-toxic. Furthermore, these canisters are FDA approved with Code of Federal Regulations Title 21 (CFR 21) as they are considered to be safe for packaging pharmaceutical drugs and food.
Usually, these containers are made up of plastic as it is a preferred packaging material available with a variety of grades. Plastic also has significant properties such as it is chemically inert in nature, aesthetic appeal, and customized thickness which assist in marketing and promotional activities. Polyolefin, PET, PE, PP, and Polyvinyl Chloride (PVC) are some of the grades of plastic used for packaging.
Numerous production facilities use canisters of different configuration. For instance, canisters with a configuration of 0.5-1 gm are used by pharmaceutical industries. Whereas, for storing chemicals, canisters with a configuration between 1–2gm are mostly used. Additional packaging types include vials and syringes that are used for diagnostic purposes.
Owing to the rigid design of desiccant canisters, they are an ideal fit for high-speed insertion and automatic packaging in nutraceutical and pharmaceutical bottles. For instance, the novel Oxy-Guard bottles launched by the Clariant Healthcare in October 2017 have the ability to extend the shelf life of probiotics.
The increasing awareness about the advantages of canisters amongst consumers worldwide, increase in contract manufacturing, and the booming pharmaceutical industry are some of the major growth factors of the global canisters market. Furthermore, the introduction of nano-enabled packaging and enhanced barrier properties of the canisters against mechanical forces, lights, and moisture are expected to benefit the pharmaceutical packaging market. Although, changing health regulations along with price volatility and availability of raw materials are the major constraints hampering the growth of this market.
Canisters Market Segment Insights
The global canisters market is segmented on the basis of configuration, application, and end-user.
Canisters Configuration Insights
On the basis of configuration, the global canisters market is segmented into 0.5–1 gm, 1–2 gm, 2–3 gm, 3 gm and above, and others.
Canisters Application Insights
On the basis of application, the global canisters market is classified into packaging, storage, and others. The packaging segment is divided into pharmaceuticals packaging, nutraceuticals packaging, diagnostic packaging, and others.
Canisters End-User Insights
On the basis of end-user, the global canisters market is classified into, pharmaceutical, automotive, healthcare, chemical, domestic, retail industries, and others.
Canisters Regional Insights
The global canisters market consists of four regions, namely, America, Europe, Asia Pacific, and the Middle East and Africa.
Americas dominated the global canisters market owing to the technological innovation, advancement in manufacturing processes, growing demand for blister packaging and drug delivery devices, and contribution of nanotechnology to the pharmaceutical packaging market. The US is the largest market among other countries such as Mexico, Canada, and others. The European canisters market is the second largest market followed by the Asia Pacific region.
Asia Pacific is the emerging market in the global canisters market. The rising awareness among consumers due to growing government initiatives and increasing minor and major pharmaceutical packaging industries owing to campaigns such as “Make-In-India” by the Indian government are major drivers responsible for the growth of the canisters market in India.
China and Australia are also expected to exhibit good opportunities during the forecast period. For Instance, in November 2017 Clariant Healthcare announced the establishment of a new healthcare packaging manufacturing plant in Cuddalore in Tamil Nadu. This manufacturing plant makes Clariant a major player in the growth of the pharmaceutical packaging market in India. This production unit is likely to improve the customer base in Asia Pacific and gain the canisters market prominence in this region.
Canisters Market Key Players
Some major players in the global canisters market include Zibo Uni-Shine Industry Co., Ltd., Swastika international co, Electrolux Group, Stanley Black & Decker, Dyson Ltd., Oreck Corporation, TTI Floor Care, Miele, Eureka Forbes Ltd, and Haier Group, Clariant, Sanner GmbH, Ashirwad chemicals, and others.
Intended Audience
- Canisters manufacturing companies
- Original equipment manufacturing companies
- Suppliers and distributors of canisters
- Healthcare service providers
- Teaching hospitals and Academic Medical Centers (AMCs)
- Health insurance players
- Research and consulting firms
- Medical research institutes
- Venture capitalists
- Community Centers
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